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Maritime and Blue Economy
...appeals to SON, NAFDAC to stop charging cargo examination fees A former spokesman of the Shippers Association of Lagos State (SALS) and Managing Director/CEO of Wealthy Honey Investment Limited, Dr. Kayode Farinto, has accused commercial banks of exploiting importers during the processing of Form M, a key document used for cargo clearance in Nigerian ports. ...
Money market
The Central Bank of Nigeria (CBN) has issued a dual-toned macroeconomic outlook for 2026, celebrating a robust recovery in foreign reserves while sounding a sharp alarm over deteriorating asset quality in the banking sector. In a pivotal shift for the industry, Nigeria’s non-performing loans (NPLs) have surged to an estimated 7.00%, officially breaching the 5.00% ...
News
The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, stressing that it has consistently remitted the required portion of its earnings to the Federal Government. The Managing Director/Chief Executive of NDIC, Mr. Thompson Oludare Sunday, stated this during ...
Business
The Nigerian equities market kicked off the week on a high note on Monday, following the Christmas holiday, as investors collectively gained N542 billion, extending the market’s bullish run to 11 consecutive sessions. Analysts have described the sustained rally as a “Santa Claus” effect. Major stocks, including Austinlaz, Ecobank Transnational Incorporated (ETI), Eunisell Interlinked, Honeywell ...
Capital Market
Trading activity on the Nigerian Exchange Ltd. (NGX) recorded a sharp decline during the week under review, with investors exchanging a total of 2.876 billion shares valued at N63.832 billion in 80,229 transactions. This performance stood in stark contrast to the previous week, when 9.849 billion shares worth N305.843 billion were traded in 126,584 deals, ...
Capital Market
The Nigerian capital market underwent one of its most consequential reform phases in recent history in 2025, as coordinated policy actions by the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC) reshaped market structure, strengthened investor confidence, and repositioned equities and fixed income as credible channels for long-term capital formation. Against a ...
Story behind the figures
Geregu Power Plc’s nine-month (9M) 2025 performance reflects a power generation company balancing resilient revenue growth with mounting cost pressures and working-capital challenges within Nigeria’s electricity market. While higher capacity utilization and improved grid dispatch lifted topline earnings and sustained profitability, rising gas costs, growing receivables, and tighter liquidity continue to temper the outlook. The ...
News
The year 2025 marked a defining phase in the Central Bank of Nigeria’s (CBN) reform journey, as the apex bank shifted from aggressive policy experimentation to consolidation, discipline and credibility-building. Under Governor Olayemi Cardoso, the reforms pursued during the year focused on restoring confidence in the foreign exchange market, taming inflation through tight monetary policy, ...
News
...urges new regulators to prioritise domestic refining, production growth The Centre for the Promotion of Private Enterprise (CPPE) has commended President Bola Ahmed Tinubu for resetting Nigeria’s petroleum regulatory architecture with the appointment of new Chief Executive Officers for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission ...
Money market
The Nigerian Naira recorded a mixed performance against the United States Dollar on Wednesday, recording marginal gains in the official window while depreciating in the parallel market due to sustained seasonal demand. At the Nigerian Foreign Exchange Market (NFEM), the local currency strengthened slightly, trading between ₦1,449 and ₦1,452 to the dollar. This appreciation was ...
Money market
Wema Bank has urged its customers to embrace digital banking on view of the Central Bank of Nigeria’s (CBN) new cash-related policies, set to take effect from January 1, 2026. Emphasizing the need to leverage the bank’s digital channels for safer and more convenient transactions, the bank noted that under the updated regulations, there will ...
Money market
Nigeria’s fiscal deficit widened to N5.7 trillion in the first half of 2025 as the federal government ramped up domestic borrowing to bridge revenue shortfalls and sustain capital expenditure. The latest Budget Implementation Report (BIR) reveals that debt service costs surged to N9.22 trillion between January and June 2025, absorbing nearly the entire N10.18 trillion ...
Money market
The Nigerian naira maintained a relatively stable performance against the United States dollar on Tuesday, December 23, 2025, as activity in both official and informal foreign exchange markets reflected improved liquidity typical of the year-end trading period. According to official market data, the naira traded around ₦1,459 to the dollar, showing only modest movement compared ...
News
Seplat Energy Plc, a leading Nigerian independent energy company, has completed the conversion of its onshore operated assets to the Petroleum Industry Act (PIA) fiscal regime, the company announced in a corporate disclosure to the Nigerian Exchange Ltd. on Tuesday. The conversion, carried out by Seplat’s subsidiaries Seplat West Ltd. and Seplat East Onshore Ltd., ...
News
SIFAX Group has pledged its support to the Port Authority Police (Western) Command in a bid to strengthen security across the Lagos ports and enhance the safety of lives, property and port infrastructure. The commitment was made in Lagos yesterday, when the Chairman of SIFAX Group, Dr. Taiwo Afolabi, received the newly appointed Commissioner of ...
News
...set to probe TTP’s ETO Call-Up charges The Nigerian Shippers Council has approved a marginal increase in tariffs for shipping lines. This is as the regulator also revealed plans to probe the controversial ETO electronic call-up charges levied by Truck Transit Park Limited (TTP) for trucks entering Lagos ports. Speaking at a stakeholders’ meeting recently, ...
Business
The Federal Government through the minister of Information and National Orientation, Mohammed Idris hasaid that the Tinubu administration is focused on consolidating economic gains from 2025 and driving sustainable growth in 2026. This even as he highlighted the government’s economic achievements and plans during the Federal Government’s end-of-year media briefing in Abuja on Monday. According to Idris, ...
Capital Market
The Nigerian naira continued to show signs of weakness against the United States dollar on Monday, with both official and parallel foreign exchange markets reflecting sustained depreciation amid thin year-end liquidity and robust dollar demand. In the official Nigerian Foreign Exchange Market (NFEM), the naira closed around ₦1,466.50 per US dollar, a level largely unchanged ...
Capital Market
The Nigerian Exchange (NGX) closed the week on a positive note as the All-Share Index (ASI) and market capitalisation appreciated by 1.76 per cent to settle at 152,057.38 points and N96.937 trillion respectively. The performance represents an improvement over the previous week’s close of 149,433.26 points and N95.264 trillion market capitalisation, resulting in a gain ...
Story behind the figures
Oando Plc’s performance for the first nine months of 2025 depicts a company at a strategic crossroads, shaped heavily by sweeping changes in the global energy industry and the evolving landscape of Nigeria’s oil and gas sector. While the energy group has delivered a sharp rebound in profitability driven by upstream expansion and accounting reversals, ...
